Naira extends significant appreciation against US dollar

The naira continued its appreciation rally against the United States dollar astatine the authoritative overseas speech marketplace connected Monday.

The Central Bank of Nigeria’s information showed that the naira further strengthened to N1,357.77 per dollar connected Monday, up from N1,366.23 connected Friday past week.

This means that section currency gained N8.46 importantly against the dollar connected Monday erstwhile compared to Friday.

Meanwhile, astatine the achromatic market, the Naira weakened by N5 to N1430 per dollar connected Monday, down from N1425 per dollar upon adjacent of trading past week.

DAILY POST reports that the Naira kicked disconnected the week successful mixed sentiments crossed overseas speech markets.

This comes arsenic the National Bureau of Statistics reports that the country’s header ostentation dropped somewhat successful February to 15.06 percent.

Last week, the apex slope information showed that overseas reserves roseate to $50.027 billion.

Naira extends important appreciation against US dollar